Target Card SCRA: Circle Card (RedCard) Credit at 28.20%, Cut to 6%

Bring a $1,500 Target credit card balance into active duty and, at 28.20%, it costs about $423 over a year. At the SCRA’s 6% it costs $90. You keep about $333 a year, forgiven outright. (Illustration only: simple interest with the balance unchanged for twelve months. TD figures interest on a daily balance, so the real number runs slightly higher.)

The rate comes from TD Bank USA’s posted Target Credit Agreement, revision R01.26, read on td.com on October 19, 2026. Target’s own rates page asked our browser to pass a human-verification check that day, so we did not read it; the agreement is the source.

Four Target Circle Cards, two that charge interest

Target’s contact page lists four products under the one name. Its card page, read October 19, 2026, says applicants are first considered for the Target Mastercard and, if not approved, for the Target Circle Credit Card, “issued by TD Bank, USA, N.A.” The debit card pays “directly from your existing checking account,” and the same page says Target Corporation issues it. The reloadable account is winding down: Target’s help page says funds could be added only through March 4, 2026.

Terms from TD’s R01.26 agreement and target.com, checked October 19, 2026.

If you carried an old RedCard, check which kind it was before you file anything. A debit RedCard holder has no SCRA claim against Target, because there is no Target debt.

TD lends, Target services: where the request goes

The agreement names TD Bank USA, N.A., “a national bank with its main office located in Delaware,” as issuer of both credit products. Then it adds the line that decides your route: “TD Bank USA, N.A. is the issuer and Target has the right to service accounts and collect on TD Bank’s behalf.”

So your account questions go through Target’s own card lines. Target’s contact page, read October 19, 2026, lists separate lines: 1-800-424-6888 for the Circle Credit Card, 1-612-815-9922 for the Circle Mastercard, 1-888-729-7331 for debit and 1-833-840-4332 for reloadable, all with 711 relay. The only mailing address it prints is for payments: Target Card Services, P.O. Box 660170, Dallas, TX 75266-0170. Do not send orders to a payment lockbox. Call first, ask where military orders go, then put the request on paper with the orders attached; the statute runs on that paper. This site has no TD Bank page, and none of Target’s or TD’s documents we read describes a Target SCRA desk.

Your margin may depend on when you opened the card

TD prices Target credit as prime plus a margin. The agreement versions Target hosts show the margin for new accounts moved in late 2023:

Each printed APR reflects the prime rate when that version was drafted.

At the prime implied by R01.26, the older margin works out to 26.40%: about $396 a year on $1,500, or roughly $306 forgiven at 6%, if TD has not changed your terms since. Citi’s and Goldman Sachs’s disclosures put prime at 7.00% in late September 2026, which would move the current formula to 28.45%. Your statement shows the rate you actually pay. Your account-opening date is the date that decides whether the SCRA or the MLA applies.

The rest of the pricing is plain. TD lists no penalty rate. Your first late payment is $30, and later ones cost $41 until you make six on-time minimums in a row. The minimum interest charge is $1. The Mastercard adds a cash advance fee of 3%, at least $10. Section 3937(d)(1) treats “service charges, renewal charges, fees” as interest, so a late fee billed while you serve, on a balance from before your orders, counts toward your 6%. A cash advance you take after your orders start is new debt, fee and all.

Opened the card on orders: no posted notice, same 36%

A Target account opened while you, or the member you depend on, were on qualifying active duty belongs to the Military Lending Act instead. The rule at 32 CFR 232.3(g) fixes covered-borrower status at the moment a consumer “establishes an account for consumer credit.” For a card like this, 10 U.S.C. § 987(b) bars an annual percentage rate “greater than 36 percent,” and the MAPR explainer shows what folds into that figure.

The Target section of TD’s R01.26 document, the same R01.26 text Target links from its card page, and the two 2023 copies Target hosts print no military notice; TD’s Nordstrom disclosures in the same file carry one. A posted agreement is not the whole record: 32 CFR 232.6(a) has the creditor give a covered borrower the MLA disclosures “before or at the time” the account is established, so what a covered applicant was shown is not in the posted text. The Target text we read also has no arbitration clause, so there is nothing to opt out of; a dispute would be heard in court, with federal and Delaware law governing the agreement. The statute protects you either way: § 987(f)(4) makes any arbitration agreement on consumer credit unenforceable against a covered member. The arbitration guide covers why that matters. If you were covered at opening, ask Target Card Services to confirm the account is flagged as MLA.

Target credit card: claim the cap

1. Confirm you hold the credit card or Mastercard, not the debit or reloadable version. Only the credit products carry a balance the cap can reach.
2. Find the account-open date and APR on a statement. Before your orders means the 6% cap; during them means the MLA. The eligibility checker helps.
3. Estimate the refund with the refund calculator.
4. Call Target Card Services (1-800-424-6888 for the Credit Card, 1-612-815-9922 for the Mastercard) and ask for the mailing or upload route for military orders.
5. Put the request in a signed letter and attach the orders; the request letter template has the wording.
6. Ask for the applied rate and its start date in writing, then check two statements for a credit back to your call-up date. If it is missing, follow the escalation steps.

The law behind this: 50 U.S.C. § 3937

Rate limit on obligations from before service: read the statute , or read § 3937 in plain English, with its enforcement record .